Actuarial Science
Major
Program Overview
Are you great with numbers? Consider the actuarial science undergraduate program at CMU. Actuarial science uses analytical and statistical processes to assess risk in various industries. It’s no easy job. But if you enjoy math and statistics, becoming an actuarial scientist can make you a risk management champion. Gain comprehensive training in thinking, reasoning and problem-solving.
Program Snapshot
Why This Program & What You'll Learn
Actuaries find ways to manage risk. As an actuary professional, you’ll use your problem-solving expertise to make real contributions. You’ll have an impact on business, industry, government, education and more. The study of actuarial science includes comprehensive training in thinking, reasoning, computing and problem-solving. These talents will strengthen your education, make you a well-rounded individual and enhance your appeal to employers worldwide.
Employment of actuaries is projected to grow 21 percent from 2021 to 2031, much faster than the average for all occupations according to the U.S. Bureau of Labor Statistics. According to U.S. News & World Report's "Best Jobs 2023," actuary ranked No. 13 on the Best STEM Jobs list and ranked No. 9 on the best jobs of 2021 by CareerCast.com.
Our actuarial science program is designed to prepare you for the first four actuarial exams (P, FM, IFM and LTAM). These exams are administered by the Society of Actuaries and the Casualty Actuarial Society. Students are encouraged to pass at least two exams by the time they graduate.
Program Highlights
As a student in the CMU actuarial science program, you’ll:
- Get the support and opportunities to be successful through professional development, resources and developing contacts through student organizations.
- Be prepared for up to four Actuarial Exams in (P, FM, IFM and LTAM) administered by the Society of Actuaries.
- Benefit from a broad-based curriculum expressly designed to strengthen your skills for a career in business, industry, government and more.
- Develop professional network through participating in a very active international student fraternity organization — Gamma Iota Sigma, managed by actuarial science students.
Careers & Outcomes
Actuaries are business professionals who use their mathematical, statistical, and business management skills to assess risk and uncertainty. About 70 percent of actuaries work for insurance companies, about 25 percent for consulting firms and about 5 percent for government agencies. Statistics, actuarial science and data science are three disciplines which have the highest growth rates in the STEM area.
| Career | Projected Salary |
|---|---|
| Financial Planning Manager | $156,100 |
| Accounting Manager | $89,827 |
| Actuary | $120,000 |
| Business Analyst (General) | $99,410 |
| Financial Manager | $139,790 |
| Business Intelligence Analyst | $103,500 |
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